Hundreds Of Tri-Boro Jobs Reinstated With Pandemic Loan Money

Hundreds of jobs in the Tri-Boro area were reinstated thanks to the U.S. Small Business Administration and U.S. Treasury Paycheck Protection Program that was designed to help New Jersey businesses affected by the coronavirus pandemic.

More than 4.9 million loans over $150,000 were made to businesses and nonprofit organizations across the country; the total amount for approved loans over that amount was more than $521 billion.

Around 22,000 businesses in New Jersey were approved for loans greater than $150,000. Loans over $150,000 account for about 925,000 jobs. Below is a breakdown of the amounts approved in New Jersey:

· $5 million to $10 million: 162

· $2 million to $5 million 844

· $1 million to $2 million: 1,823

· $350,000 to $1 million: 6,689

· $150,000 to $300,000: 12,339

In Butler the following businesses were approved for loans between $1 and 2 million and the list indicates how many jobs that were reinstated:

• GENERANT COMPANY INC., 192
• ROUTE 23 AUTO MALL L.L.C., 132

Here are the businesses approved for loans between $350,000 and 1 million and how many jobs that were reinstated:

• ANSERVE, INC., 84
• BUTLER PRINTING AND LAMINATING, INC., 37
• PEERLESS CONCRETE PRODUCTS CO., 49
• PRECISION FORMS INC., 40
• SKY HI BUILDING SERVICES, CORP., 273
• TEAM PRECISION AUTO, LLC., N/A

Here are the businesses approved for loans between $150,000 and $350,000 and how many jobs that were reinstated:

• ADVANCED WATER SOFTENING LLC., 10
• BETTS ENVIRONMENTAL SERVICES CORPORATION, 16
• CREW ENGINEERS INC., 19
• DELL LANDSCAPING INC., 22
• EDUCATIONAL MANAGEMENT SERVICES, INC., 8
• EXCELSIOR LUMBER CO INC., 16
• FLYING CONNECTED INC., 19
• GREEN LIFE MARKET LIMITED LIABILITY COMPANY , 43
• GREENWOOD ABATEMENT CONSULTANTS, INC., N/A
• J2 CONSTRUCTIONS SOLUTIONS LLC., 17
• LJS WATERPROOFING LLC., 29
• PERFORMANCE AUTOS OF BUTLER LLC., 34
• ROBERT F GAISER INC., 20
• RON-JON CONSTRUCTION CORP., 17
• TGM PROPERTY MAINTENANCE AND CONSTRUCTION, LLC., 30
• TRINITY DIRECT, LLC., 10
• WINDWARD MARINE-INDUSTRIAL INC., 10

Over in Kinnelon the Yannuzzi Group was approved for a loan between $1 and $2 million for the reinstatement of 78 job.

Here are the businesses approved for loans between $350,000 and $1 million and how many jobs that were reinstated:

• CONSTRUCTION INFORMATION SYSTEMS, INC., 42
• INFORMED SOFTWARE INC., 23
• M R DESIGN AND PACKAGING, INC., N/A
• PREMIER BUILDING SERVICES LLC., 118
• TEMPO MANAGEMENT LLC., 268

Here are the businesses approved for loans between $150,000 and $350,000 and how many jobs that were reinstated:

• ALLERGY AND IMMUNOLOGY ASSOCIATES OF TEANECK AND RIVER EDGE, P.A., 15
• FLEX PLUMBING & HEATING LLC., 19
• KINNELON DERMATOLOGY ASSOCIATES, 16
• MARSTON CHIROPRACTIC LLC., N/A
• OHA POWER, LLC., 13
• PREMIER RETAIL SERVICES INC., 48
• RIALTO ELECTRIC CORPORATION, 11
• WAYNE JOHNSON & SONS, INC., 21
• WILLIAM ROBBINS, 9

Loans to New Jersey businesses ran the gamut and included higher education institutions, private schools, manufacturers, car washes, real estate agent companies and non-profits although a number of businesses are now reporting that the list, in some instances, contains "some big errors," according to CNBC.

The loans are made by lending institutions including banks and credit unions and are guaranteed by the SBA. All PPP loans are subject to review by the SBA and all loans over $2 million are automatically reviewed by the SBA.

"Because a borrower is listed in the data as having a PPP loan does not mean that SBA has determined that the borrower complied with program rules or is eligible to receive a PPP loan and loan forgiveness," the SBA said in a statement about the data release.

The average size of a PPP loan is around $107,000 and 86.5 percent of all loans were for less than $150,000, according to the SBA.

PPP loans have an interest rate of one percent and can be fully forgiven if they are used to payroll costs, interest on mortgages, rent and utilities.

Patch editors Tom Davis and Jeff Arnold contributed to this report.

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